Tech Five: eBay surging off quarterly results
Online marketplace eBay is jumping in early trading as three more tech heavyweights get ready to report results on Thursday. Let's review the tech stocks to watch:
eBay. Shares soared nearly 5% in pre-market trading after beating Wall Street on revenue and earnings for the first quarter. EBay reported revenue of $4.45 billion with earnings of 77 cents a share. The company is in the process of its split from payments service PayPal, which will be complete by the end of the third quarter.
Facebook. Shares of the social networking giant were down slightly after revenue came in lower than expected while spending ramps up. Facebook reported first quarter revenue of $3.54 billion, citing a stronger dollar.
Microsoft. Analysts forecast the tech giant will report earnings per share of 51 cents off revenue of $21.07 billion for its third quarter results coming later today. Since November, shares of Microsoft have sunk 14%.
Amazon. The online retailer reports first quarter earnings after the markets close Thursday. Analysts polled by FactSet project a loss of 16 cents per share with revenue of $22.37 billion. Earlier this week, shares of Amazon surged to a 52-week high of $391.94.
Google. Fresh off making its entry into the wireless market with Project Fi, Google reports first quarter results after the bell. Analysts project earnings of $6.61 per share off $14.05 billion in revenue.
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